Home – New Forums Money matters To discount or not to discount in a downturn Reply To: To discount or not to discount in a downturn

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As the responses are indicating the answer is “it depends”. If you’re selling things discounting may be appropriate but when selling services it’s not. When people buy a service they are generally buying an experience. So make the experience as amazing as possible and price falls away as an issue.

Keep in mind that if you discount it’s going to be much harder to get your prices back. The customers who are price driven will generally turn out to be high maintenance and will end up not being worth the amount of effort required.

In my article in Nett magazine “The Price is Right” I strongly recommend increasing your prices. Some feedback I had on the article was from a veterinary practice who increased their prices in order to reduce the number of customers. The opposite occurred – the number of clients increased. This is not the only time I’ve heard of this experience.

Of course the real question is “what do you believe YOU’RE WORTH”? If you are honest about it that’s where you set your price and you will get it.

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